August 18, 2009
Articles
Retirement Plan To-Do List - 2009
Determination Letter Filings – Individually Designed Retirement Plans qualified under Internal Revenue Code § 401(a) for multiemployer plans or for a plan sponsored by an employer with an EIN number ending in 4 or 9 are to file a Request for Tax Qualification Determination (IRS Form 5300) on or before January 31, 2010. Prototype Plans may submit a Request for Determination Letter (IRS Form 5307) on or before April 30, 2010.
Pension Protection Act Amendments – Plans must be amended for this Act by December 31, 2009.
HEART Act – There are certain mandatory and optional amendments relating to participants in military action.
Required Minimum Distribution (“RMD”) in 2009 – RMDs are not required for 2009. Plan must determine how they will treat 2009 RMDs (e.g., suspend all RMDs, permit participant elections to continue to receive the RMD, continue distributing RMDs unless participant elects otherwise, etc.) Plans must reflect the decision in an amendment made by the end of the 2011 plan year.
Combined Defined Benefit/401(k) Plan – For plan years after December 31, 2009, this is a new type of plan option than plan sponsors may adopt.
403(b) Plans – Plan Sponsors of 403(b) Plans must adopt a written plan document with certain required provisions by December 31, 2009.
Notices – Various required notices for DC or DB Plans.
If you need assistance reviewing and revising your Retirement Plans, please contact Ruth Marcott at (612) 373-8435 or by email, rmarcott@felhaber.com or Bill Ecklund at (612) 373-8509 or by email, wecklund@felhaber.com.
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Felhaber, Larson, Fenlon & Vogt, P.A. |
Felhaber, Larson, Fenlon & Vogt, P.A. |
www.felhaber.com |
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